2017. An encompassing analysis of Brazil’s society, economy and politics since the Independence. A national-dependent interpretation. Three historical cycles of the relation state-society: State and Territorial Integration Cycle (1822-1929), Nation and Development Cycle (1930-1977) and Democracy and Social Justice Cycle (1977-2010). Crisis since then. (Book: Lynne Rienner Publishers)

Teoria do Desenvolvimento Econômico

2018 - Book on the phases of capitalist development and the distribution of income using Marx's model of the falling tendency of the rate of profit. First edition, 1986; second edition, e-book only, Kindle format. Atualized in the apendix with the paper, "Growth and distribution: a revised classical model".

2019. Economic growth involves increase of real wages. Which are not detemined by the subsistence level of the workers but from their cost of reproduction that increase with the value-added per capita, while the profit rate remains satisfying - enough to lead companies to invest. Paper (Nova Economia)

2019. Latin America was not bcaught in the 'middle-income trap" but into the "1980s' liberalization trap", while East Asia overcome its middle-income condition and are today rich countries, or, in the case of China, heading to become so. (paper)

2019. The Capitalist Revolution envelops the Commercial Revolution, the formation of the nation-states, and the industrial revolution. England was the first nation to "complete" it. After each country makes the Capitalist Revolution, economic development begins and turns self-sustained. (paper)

2017. Capitalism and the state are either developmental, or liberal. Developmentalism and economic liberalism are two forms of coordinating capitalism. Capitalism was born developmental anywhere, in England or in the US, in Germany or in Brazil, in Japan or in China. (paper: Brazilian Journal of Political Economy)

2017. With André Nassif and Carmem Feijó. A discussion on the connection between the macroeconomic regime and industrial policy, both oriented to reindustrialisation and catching up. (Paper for the Cambridge Journal of Economics)

2017. Pre-industrial countries are supposed to realize their capitalist revolution in a global political famework that requires that they are democratic. But today's rich and middle income countries made it while their regimes was authoritarian. Publicado como Texto para Discussão

2015. Pre-industrial countries are supposed to realize their capitalist revolution in a global political famework that requires that they are democratic. But today's rich and middle income countries made it while their regimes was authoritarian. (Texto para Discussão EESP/FGV n.410, january 2016). Publicado no Brazilian Journal of Political Economy.

2016. All industrial revolutions happened in the framework of a developmental state. We can distinguish in history four basic models of developmental state. Portuguese version available.(Texto p/ Discussão)

2015. New Developmentalism is a theory that was preceded by Classical Developmentalism. It focus on the equilibrium of five macroeconomic prices, and of the two macro accounts, particularly the current or external account.

2016. All industrial revolutions happened in the framework of a developmental state. We can distinguish in history four basic models of developmental state. (Paper to be published - TD-412). English version available.

2014. With Nelson Marconi and José Luís Oreiro. Developmental Macroeconomics is a book on development macroeconomics associated with New Developmentalism. In its core are the exchange rate and the current account, instead of the budget deficit and the interest rate. (Book: Routledge)

2014. The 2008 global financial crisis took the world by surprise, not least because politicians, businessmen and economists believed that they had learned crucial lessons from the Great Depression of the 1930s. As a direct result of deregulated financial markets, financial crises occurred in both developed and developing economies. However, this volume argues that in the most recent crisis developing countries suffered less, and that financial policy and regulation played a crucial part in this. (Book edited with Jan Kregel and Leonardo Burlamaqui )

2014. In developing countries it is not enough to secure demand for entrepreneurs to invest; additionally, is required access to it, which only a competitive exchange rate can assure. (Paper Keynesian Brazilian Review)

2012. In so far as structuralist development macroeconomics assumes that developing countries face a tendency to the cyclical overvaluation of the eschange rate, it makes the exchange rate chronically overvalued. Thus, it ceases to be just a short term macroeconomic problem, to be part of the corre of development economics. (Paper: Estudos Avançados) Portuguese version

2009. Over-exploitation as well as associated dependency interpretations denied the possibility of national bourgeoisies in the region and contributed to weakening Latin American nations. Only a third version of dependency - the national-dependent interpretation - escaped this fate. Published in English in Latin American Perspectives 178, vol. 38 (3) May 2011Portuguese and French versions available. (Paper: Latin American Perspectives).

2010. Over-exploitation as well as associated dependency interpretations denied the possibity of national bourgeoisies in the region and contributed to weakening Latin American nations. Only a third version of dependency - the national-dependent interpretation - escaped this fate. English and French versions available. (Paper: Perspectivas).

2009. Over-exploitation as well as associated dependency interpretations denied the possibity of national bourgeoisies in the region and contributed to weakening Latin American nations. Only a third version of dependency - the national-dependent interpretation - escaped this fate. English and Portuguese versions available. (Paper: Revue Tiers Monde).

2008. Economic development as well as nations, the modern state, and the nation-state are outcomes of the Capitalist Revolution - this tectonic structural change formed by three sub-revolutions: the Commercial, the National and the Industrial revolutions. (Discussion paper)

2006. Economic growth is the outcome of a national strategy of development. The characteristics and main tensions involved in these national strategies discussed. See a more complete version in English.(Paper: Revista de Economia Política)

2006. A critique of the two dependency theories (associated and super-exploration) which intended to be an alternative to ISEBs and ECLACs view of Latin American development. Only a third version - national-dependent theory - is consistent with the nation building and growth. Portuguese and English versions available.(Paper)

2005. A critique of the two dependency theories (associated and super-exploration) which intended to be an alternative to ISEBs and ECLACs view of Latin American development. Only a third version - national-dependent theory - is consistent with the nation building and growth. English and Spanish versions available.(Paper in edited book)

2005. A critique of the two dependency theories (associated and super-exploration) which intended to be an alternative to ISEBs and ECLACs view of Latin American development. Only a third version - national-dependent theory - is consistent with the nation building and growth. Portuguese and Spanish versions available.(Paper)

1994. There are three models of capitalism: the American, the Japanese, and the European or social democratic. The choice criterium is efficiency - what will lead Latin American to choose a combination of the social-democratic and the Japanese (developmental) model. As to democracy, it is a end in itself or a means to freedom and peace, not to economic development. Thus, trade-offs between growth and democracy should not be considered. (Published only in this website)

1986. The classical model of development with inverted distribution and three types of technical progress. A critique of Marx's falling tendency of the rate of profit. Chapters 3 and 4 of Lucro, Acumulação e Crise) (Paper: Revista de Economia Política)*

1978. Multinational entreprises involve a new form of dependency, requiring carefull scrutiny. Brazil does not need so much of capital as it is said. The Brazilian bourgeoisie is associated to multinationals, but the state's technobureaucracy is not, and may be a source of national autonomy. (Paper: Encontros com a Civilização Brasileira)*

1977. An analysis of the modernizing, authoritarian and income concentrating character of the technobureaucratic-capitalist state, and of the respective model of development: "industrialized underdervelopment" (Book: Editora Brasiliense)

1975. The basic characteristics of growth model that prevailed during the military regime: the technobureaucratic-capitalist model of industrialized underdevelopment. In macroeconomic terms, on the supply side, it was based on the production of luxury goods; on the demand side, on the concentration of income from the middle-class upwards. Portuguese version available.

1975. The basic characteristics of growth model that prevailed during the military regime: the technobureaucratic-capitalist model of industrialized underdevelopment. In macroeconomic terms it was based on the supply side on the production of luxury goods, on the demand side, on concentration of income from the middle-class upwards. French version available(

1975. The Harrod-Domar model of growth is consistent with factor substitubility provided that a coefficient of substitution of capital for labor is added. This formalization is done here.(Paper: Estudos Econômicos)

1962. In contemporary capitalism Schumpeterian entrepreneurs remain significant, but in the large business enterprises innovation is the outcome of senior executives colectively involved in entrepreneurial activity. (Paper: Revista de Administração de Empresas)